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The Editors

Hitting Argentina for Oil Seizure Can Hurt U.S. Interests

Argentina’s Lower House voted on Thursday to approve the expropriation of 51 percent of YPF SA, the country’s largest oil company. Expect more international outrage in weeks to come, when President Cristina Fernandez de Kirchner announces how little she plans to pay Spain’s Repsol YPF SA, the previous owner, for its stake, which it values at more than .

Then take a deep breath and move on, because most efforts by other nations to punish Argentina promise to be ineffectual and counterproductive. That’s a job best left to the markets.